Virgin Money has announced updates to its mortgage offerings, introducing new products, increasing rates on select deals, and withdrawing others
Virgin Money has announced updates to its mortgage offerings, introducing new products, increasing rates on select deals, and withdrawing others.
The high street lender has launched new fixed rate fee-saver products under its Exclusive Fix and Switch shared ownership range. These include an 85% loan-to-value (LTV) fixed rate fee-saver at 4.87%, a 90% LTV fixed rate fee-saver at 5.19%, and a 95% LTV Fixed Rate fee-saver at 5.53%.
It has also increased the rate on its 85% LTV five-year fixed rate with a £995 fee by three basis points (bps), bringing it to 4.46%.
Aside from launching new rates, Virgin Money has removed several products from its portfolio. This includes the 90% LTV five-year fixed rate fee-saver at 4.85% under its Exclusive Professional range.
It also includes multiple products from its Exclusive Retrofit Boost range: the 85% LTV seven-year fixed rate with a £995 fee at 5.74%, the 85% LTV 10-year fixed rate with a £995 fee at 5.94%, the 75% LTV BTL seven-year fixed rate with a £995 fee at 6.09%, and the 75% LTV BTL 10-year fixed rate with a £995 fee at 6.29%.
From its Product Transfer range, the 90% LTV seven-year fixed rate fee-saver at 5.19% and the 90% LTV 15-year fixed rate with a £995 fee at 5.19% have also been withdrawn.
Virgin Money has also made changes to Clydesdale Bank offerings. New products include 95% LTV two- and five-year residential purchase fixed rates starting at 5.14%, with revised end dates extending to April 30 of the relevant year.
Additionally, Clydesdale’s two-year residential discount offset variable rates have increased by 25bps.
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